Common use of Approval by Holders of Preferred Shares Clause in Contracts

Approval by Holders of Preferred Shares. For so long as at least twenty percent (20%) of the Preferred Shares originally issued pursuant to the applicable share purchase agreements remain outstanding, the Company and each other Group Company shall not, and the Company, the Key Holders and the Founder Holdcos (collectively, the “Covenantors”) shall cause each Group Company not to, take any of the actions listed on Section 1(a) of the Exhibit C attached hereto without obtaining the prior consents of parties as set forth therein.

Approval by Holders of Preferred Shares. For so long as at least twenty percent (20%) of the Preferred Shares originally issued pursuant to the applicable share purchase agreements remain outstanding, in addition to any other vote or consent required elsewhere in this Agreement, the Memorandum and Articles or by any applicable statute, the Company and each other Group Company shall notnot take, and the Company, the Key Holders and the Founder Holdcos (collectively, the “Covenantors”) Company shall cause each Group Company not toto take, take and the Covenantors shall cause the Company and each Group Company not to take, any of the actions listed on Section 1(a) below, whether by merger, scheme of the Exhibit C attached hereto arrangement, amendment, recapitalization, consolidation or otherwise, without obtaining the prior consents the Preferred Shareholders holding a majority of parties as set forth therein.the outstanding Preferred Shares: